Payne Whitney
Encyclopedia
William Payne Whitney was a wealthy American
businessman and member of the influential Whitney family
.
and Flora Payne, and younger brother to Harry
, he was known throughout his life by his middle name.
Payne Whitney attended Groton School
and then Yale University
. There, he was a member of Skull and Bones
, Delta Kappa Epsilon
, and captained the Yale rowing
team. In later years, he helped finance the team, including donating funds to build a dormitory for the crew. After graduating in 1898, Whitney then studied law at the Harvard Law School
, receiving his Bachelor of Laws
in 1901.
In 1902, he married Helen Hay
(1875–1944), the daughter of then-United States Secretary of State
(and former U.S. Ambassador to the United Kingdom) John Hay
. Their Stanford White
-designed house at 972 Fifth Avenue
was a wedding gift from his maternal uncle, Oliver Hazard Payne
. The couple also had an estate, Greentree
, in Manhasset, New York
. Their son, John Hay Whitney
, also served as the Ambassador to the U.K. Daughter Joan
, an avid sportsperson, was the first owner of the New York Mets
Major League Baseball
team.
In addition to a substantial inheritance from his father, Payne Whitney inherited $63,000,000 from his uncle, Col. Oliver Hazard Payne. Amongst his many investments, Whitney had major holdings in banking, tobacco, railroads, mining and oil. He was a member of the board of directors and/or an executive officer of several large corporations, including the City Bank New York
, and the Great Northern Paper Company, and the Northern Finance Corporation.
Throughout his life, Payne Whitney was involved in philanthropic work for a variety of causes. A trustee of the New York Public Library
, in 1923 he gifted the library $12,000,000.
A horse racing
enthusiast in the tradition of his father and brother, Payne Whitney's Greentree Stable
, named for their Long Island
estate, was a very significant racing and breeding operation for thoroughbred
horses.
Whitney died in 1927 at his Greentree estate. His will bequeathed more than $20 million to the New York Hospital
and smaller amounts to other educational and medical institutions. His estate funds contributed to the establishment of the Payne Whitney Psychiatric Clinic
at New York-Presbyterian Hospital in 1932. Although he had contributed $1,000,000 to the Yale Endowment Fund shortly before his death, sufficient estate funds were also given to Yale to enable construction of the 9½ storey Payne Whitney Gym that too was completed in 1932. As a tribute to him, a road in Manhasset was named after him, Payne Whitney Lane.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman and member of the influential Whitney family
Whitney family
The Whitney family is an American family notable for their social prominence, wealth, business enterprises and philanthropy, founded by John Whitney who came from London, England to Watertown, Massachusetts in 1635.-Rise to prominence:...
.
Biography
The son of William C. WhitneyWilliam C. Whitney
William Collins Whitney was an American political leader and financier and founder of the prominent Whitney family. He served as Secretary of the Navy in the first Cleveland administration from 1885 through 1889. A conservative reformer, he was considered a Bourbon Democrat.-Early life:William...
and Flora Payne, and younger brother to Harry
Harry Payne Whitney
Harry Payne Whitney was an American businessman, thoroughbred horsebreeder, and member of the prominent Whitney family.- Early years :...
, he was known throughout his life by his middle name.
Payne Whitney attended Groton School
Groton School
Groton School is a private, Episcopal, college preparatory boarding school located in Groton, Massachusetts, U.S. It enrolls approximately 375 boys and girls, from the eighth through twelfth grades...
and then Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
. There, he was a member of Skull and Bones
Skull and Bones
Skull and Bones is an undergraduate senior or secret society at Yale University, New Haven, Connecticut. It is a traditional peer society to Scroll and Key and Wolf's Head, as the three senior class 'landed societies' at Yale....
, Delta Kappa Epsilon
Delta Kappa Epsilon
Delta Kappa Epsilon is a fraternity founded at Yale College in 1844 by 15 men of the sophomore class who had not been invited to join the two existing societies...
, and captained the Yale rowing
Sport rowing
Rowing is a sport in which athletes race against each other on rivers, on lakes or on the ocean, depending upon the type of race and the discipline. The boats are propelled by the reaction forces on the oar blades as they are pushed against the water...
team. In later years, he helped finance the team, including donating funds to build a dormitory for the crew. After graduating in 1898, Whitney then studied law at the Harvard Law School
Harvard Law School
Harvard Law School is one of the professional graduate schools of Harvard University. Located in Cambridge, Massachusetts, it is the oldest continually-operating law school in the United States and is home to the largest academic law library in the world. The school is routinely ranked by the U.S...
, receiving his Bachelor of Laws
Bachelor of Laws
The Bachelor of Laws is an undergraduate, or bachelor, degree in law originating in England and offered in most common law countries as the primary law degree...
in 1901.
In 1902, he married Helen Hay
Helen Hay Whitney
Helen Julia Hay Whitney was an American poet, writer, racehorse owner/breeder, socialite, and philanthropist. She was a member by marriage of the prominent Whitney family of New York.-Biography:...
(1875–1944), the daughter of then-United States Secretary of State
United States Secretary of State
The United States Secretary of State is the head of the United States Department of State, concerned with foreign affairs. The Secretary is a member of the Cabinet and the highest-ranking cabinet secretary both in line of succession and order of precedence...
(and former U.S. Ambassador to the United Kingdom) John Hay
John Hay
John Milton Hay was an American statesman, diplomat, author, journalist, and private secretary and assistant to Abraham Lincoln.-Early life:...
. Their Stanford White
Stanford White
Stanford White was an American architect and partner in the architectural firm of McKim, Mead & White, the frontrunner among Beaux-Arts firms. He designed a long series of houses for the rich and the very rich, and various public, institutional, and religious buildings, some of which can be found...
-designed house at 972 Fifth Avenue
972 Fifth Avenue
The Payne Whitney house is a historic building at 972 Fifth Avenue at 79th Street in Manhattan, New York City. It was designed by Stanford White and is considered one of that great architect's finest mature works...
was a wedding gift from his maternal uncle, Oliver Hazard Payne
Oliver Hazard Payne
Oliver Hazard Payne was an American businessman, organizer of the American Tobacco trust, and assisted with the formation of U.S. Steel, and was affiliated with Standard Oil. He is considered one of the 100 wealthiest Americans, having left an enormous fortune. His estate at Esopus, New York,...
. The couple also had an estate, Greentree
Greentree
Greentree is a estate in Manhasset, New York on Long Island. Payne Whitney purchased the estate for his bride, Helen Julia Hay, in 1904. Later, John Hay Whitney and his second wife, Betsey, occupied the main house, where Mrs...
, in Manhasset, New York
Manhasset, New York
Manhasset is a hamlet and neighborhood in Nassau County, New York, on the North Shore of Long Island. As of the United States 2010 Census, the population was 8,080....
. Their son, John Hay Whitney
John Hay Whitney
John Hay Whitney , colloquially known as "Jock" Whitney, was U.S. Ambassador to the United Kingdom, publisher of the New York Herald Tribune, and a member of the Whitney family.-Family:...
, also served as the Ambassador to the U.K. Daughter Joan
Joan Whitney Payson
Joan Whitney Payson was an American heiress, businesswoman, philanthropist, patron of the arts and art collector, and a member of the prominent Whitney family...
, an avid sportsperson, was the first owner of the New York Mets
New York Mets
The New York Mets are a professional baseball team based in the borough of Queens in New York City, New York. They belong to Major League Baseball's National League East Division. One of baseball's first expansion teams, the Mets were founded in 1962 to replace New York's departed National League...
Major League Baseball
Major League Baseball
Major League Baseball is the highest level of professional baseball in the United States and Canada, consisting of teams that play in the National League and the American League...
team.
In addition to a substantial inheritance from his father, Payne Whitney inherited $63,000,000 from his uncle, Col. Oliver Hazard Payne. Amongst his many investments, Whitney had major holdings in banking, tobacco, railroads, mining and oil. He was a member of the board of directors and/or an executive officer of several large corporations, including the City Bank New York
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
, and the Great Northern Paper Company, and the Northern Finance Corporation.
Throughout his life, Payne Whitney was involved in philanthropic work for a variety of causes. A trustee of the New York Public Library
New York Public Library
The New York Public Library is the largest public library in North America and is one of the United States' most significant research libraries...
, in 1923 he gifted the library $12,000,000.
A horse racing
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
enthusiast in the tradition of his father and brother, Payne Whitney's Greentree Stable
Greentree Stable
Greentree Stable, in Red Bank, New Jersey, was a major American thoroughbred horse racing stable and breeding farm established in 1914 by Payne Whitney of the Whitney family of New York City. Payne Whitney operated a horse farm and stable at Saratoga Springs, New York with his brother Harry Payne...
, named for their Long Island
Long Island
Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...
estate, was a very significant racing and breeding operation for thoroughbred
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...
horses.
Whitney died in 1927 at his Greentree estate. His will bequeathed more than $20 million to the New York Hospital
New York Hospital
New York Hospital or “Old New York Hospital” or “City Hospital” was the oldest hospital in New York City and the second oldest hospital in the United States.-Early History:...
and smaller amounts to other educational and medical institutions. His estate funds contributed to the establishment of the Payne Whitney Psychiatric Clinic
Payne Whitney Psychiatric Clinic
At his death in 1927, Payne Whitney bestowed the funds to build and endow the Payne Whitney Psychiatric Clinic on the Upper East Side of Manhattan...
at New York-Presbyterian Hospital in 1932. Although he had contributed $1,000,000 to the Yale Endowment Fund shortly before his death, sufficient estate funds were also given to Yale to enable construction of the 9½ storey Payne Whitney Gym that too was completed in 1932. As a tribute to him, a road in Manhasset was named after him, Payne Whitney Lane.